EXHIBIT 99.1
[ALNYLAM PHARMACEUTICALS LOGO] [NASTECH PHARMACEUTICALS COMPANY
INC. LOGO]
CONTACTS:
ALNYLAM PHARMACEUTICALS, INC. NASTECH PHARMACEUTICAL COMPANY INC.
INVESTOR CONTACT: INVESTOR CONTACT:
Lilian Stern Matthew Haines
Stern Investor Relations, Inc. Noonan Russo
212-362-1200 212-845-4235
MEDIA CONTACT: MEDIA CONTACT:
Kathryn Morris Carney Duntsch
KMorrisPR Burns McClellan
845-635-9828 212-213-0006
ALNYLAM GRANTS NASTECH A LICENSE TO DEVELOP RNAi THERAPEUTICS AGAINST TNF-
ALPHA
LICENSE FOR RNAi INTELLECTUAL PROPERTY GRANTED UNDER ALNYLAM
INTERFERX(TM) PROGRAM
CAMBRIDGE, MASS. AND BOTHELL, WASH., JULY 20, 2005 - Alnylam Pharmaceuticals,
Inc. (Nasdaq: ALNY), a leading RNAi therapeutics company, announced today that
it has granted Nastech Pharmaceutical Company Inc. (Nasdaq: NSTK), a leader in
molecular biology-based drug delivery technologies, an exclusive InterfeRx(TM)
license to discover, develop, and commercialize RNAi therapeutics directed
against TNF-alpha, a protein associated with inflammatory diseases including
rheumatoid arthritis. Detailed financial terms were not disclosed, but include
upfront, annual and milestone payments, and royalties on sales of any products
covered by the licensing agreement.
"Alnylam is extremely pleased to be working with Nastech and aiding efforts
toward the commercialization of RNAi therapeutics," said John Maraganore, Ph.D.,
President and Chief Executive Officer of Alnylam Pharmaceuticals. "Nastech is
the third company to participate in our InterfeRx program, which is an important
part of our overall strategy to create value today by leveraging our
intellectual property portfolio in RNAi through partnerships."
"Nastech is committed to advancing breakthrough products, including RNAi
therapeutics, in markets with significant commercial potential," said Steven C.
Quay, M.D., Ph.D., Chairman, President and Chief Executive Officer of Nastech.
"Nastech's proprietary delivery technologies are a promising approach to achieve
therapeutic levels of this exciting new class of compounds. This was recently
demonstrated through our successful in vivo use of RNAi to suppress rheumatoid
arthritis in mice. The InterfeRx license from Alnylam is important for our
efforts to develop, partner, and commercialize RNAi therapies."
"Nastech's innovative approach to the treatment of major inflammatory diseases,
including rheumatoid arthritis, through an RNAi therapeutic could offer
significant clinical benefits for patients," stated Dr. Philip J. Mease, M.D.,
Chief, Rheumatology Clinical Research, Swedish Medical Center and Clinical
Professor, University of Washington School of Medicine, Seattle, WA. "The
opportunity for Nastech to advance this program through access to Alnylam's
patent portfolio in the area of RNAi therapeutics is excellent news."
With the recognized potential of RNAi to become the basis for a broad new class
of drugs to treat multiple diseases, Alnylam has built a leading portfolio of
issued and pending patents covering compositions and uses of RNAi therapeutics.
Alnylam created the InterfeRx program to grant licenses under this intellectual
property to biotechnology and pharmaceutical companies wishing to pursue RNAi
therapeutics against specific targets outside Alnylam's core strategic
interests.
ABOUT RNA INTERFERENCE (RNAi)
RNA interference, or RNAi, is a naturally occurring mechanism within cells for
selectively silencing and regulating specific genes. Since many diseases are
caused by the inappropriate activity of specific genes, the ability to silence
and regulate such genes selectively through RNAi could provide a means to treat
a wide range of human diseases. The discovery of RNAi has been heralded by many
as a major breakthrough, and the journal Science named RNAi the top scientific
achievement of 2002, as well as one of the top 10 scientific advances of 2003.
ABOUT ALNYLAM
Alnylam is a biopharmaceutical company seeking to develop and commercialize
novel therapeutics based on RNA interference, or RNAi. Growing from its
foundation as the world's first company focused on RNAi therapeutics, the
company's leadership in the field of RNAi is supported by its preeminent
founders and advisors and its strengths in fundamental patents, technology, and
know-how that underlie the commercialization of RNAi therapeutics. Alnylam is
developing a pipeline of RNAi products using Direct RNAi(TM) to treat ocular,
central nervous system, and respiratory diseases and Systemic RNAi(TM) to treat
a broad range of diseases, including oncology, metabolic, and autoimmune
diseases. The company's global headquarters are in Cambridge, Massachusetts. For
additional information, please visit www.alnylam.com.
ABOUT NASTECH
Nastech is a pharmaceutical company developing innovative products based on
proprietary molecular biology-based drug delivery technologies. Nastech and its
collaboration partners are developing products for multiple therapeutic areas
including inflammatory conditions, obesity and osteoporosis. For additional
information about Nastech, please visit www.nastech.com.
ALNYLAM FORWARD-LOOKING STATEMENTS
Various statements in this release concerning our future expectations, plans,
prospects and future operating results constitute forward-looking statements for
the purposes of the safe harbor provisions under The Private Securities
Litigation Reform Act of 1995. Actual results may differ materially from those
indicated by these forward-looking statements as a result of various important
factors, including risks related to: our approach to discover and develop novel
drugs, which is unproven and may never lead to marketable products; our ability
to obtain additional funding to support our business activities; our dependence
on third parties for development, manufacture, marketing, sales and distribution
of our products; the successful development of products, all of which are in
early stages of development; obtaining regulatory approval for products;
competition from others using technology similar to ours and others developing
products for similar uses; obtaining, maintaining and protecting intellectual
property utilized by our products; and our short operating history; as well as
those risks more fully discussed in the "Certain Factors That May Affect Future
Results" section of our most recent Form 10-Q filed with the Securities and
Exchange Commission. In addition, any forward-looking statements represent our
views only as of today and should not be relied upon as representing our views
as of any subsequent date. We do not assume any obligation to update any
forward-looking statements.
NASTECH FORWARD LOOKING STATEMENTS
Statements made in this press release may be forward-looking statements within
the meaning of Federal Securities laws that are subject to certain risks and
uncertainties and involve factors that may cause actual results to differ
materially from those projected or suggested. Factors that could cause actual
results to differ materially from those in forward-looking statements include,
but are not limited to: (i) the ability of Nastech to obtain additional funding;
(ii) the ability of Nastech to attract and/or maintain manufacturing, research,
development and commercialization partners; (iii) Nastech's and/or a partner's
ability to successfully complete product research and development, including
preclinical and clinical studies and commercialization; (iv) Nastech's and/or a
partner's ability to obtain required governmental approvals; and (v) Nastech's
and/or a partner's ability to develop and commercialize products that can
compete favorably with those of competitors. Additional factors that could cause
actual results to differ materially from those projected or suggested in any
forward-looking statements are
contained in Nastech's most recent periodic reports on Form 10-K and Form 10-Q
that are filed with the Securities and Exchange Commission. Nastech assumes no
obligation to update and supplement forward-looking statements because of
subsequent events.
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